XRP Whales Unload Over 1.6 Billion Tokens on Binance Amid Price Volatility

A significant transfer of XRP tokens to Binance has been observed over the past month. According to data from CryptoQuant, around 1.6 billion XRP tokens have been transferred to the platform in the last 30 days, marking a six-month high.

This large-scale movement of tokens by whales comes after a steady decline in whale inflows since March. The transfer is seen as an increase in the available supply for short-term trading, although it does not necessarily imply an intention to sell. Whales often move funds between wallets and exchanges for various reasons, including liquidity management, preparation for trades, or portfolio reorganization.

XRP's price saw a rise of approximately 70% between August 17 and 21, but the rally lost momentum after the United States Senate failed to advance the CLARITY Act. The token posted an 8% drop on September 15 and stabilized near $1.33, before recovering slightly to $1.38 per unit over the past 24 hours.